Question
The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2: Supplies $ 650 Beginning retained earnings $
The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2:
Supplies | $ | 650 | Beginning retained earnings | $ | 19,000 | |||||||
Cash flow from investing act. | (6,200 | ) | Cash flow from financing act. | (5,100 | ) | |||||||
Prepaid insurance | 2,400 | Rent expense | 2,800 | |||||||||
Service revenue | 79,000 | Dividends | 4,900 | |||||||||
Other operating expenses | 41,000 | Cash | 10,600 | |||||||||
Supplies expense | 260 | Accounts receivable | 19,000 | |||||||||
Insurance expense | 1,100 | Prepaid rent | 4,900 | |||||||||
Beginning common stock | 1,100 | Unearned revenue | 6,200 | |||||||||
Cash flow from operating act. | 7,500 | Land | 37,000 | |||||||||
Common stock issued | 5,800 | Accounts payable | 13,510 | |||||||||
Required Use the accounts and balances from Barker Company to construct an income statement.
Use the accounts and balances from Barker Company to construct statement of changes in stockholders equity.
Use the accounts and balances from Barker Company to construct balance sheet.
Use the accounts and balances from Barker Company to construct statement of cash flows (show only totals for each activity on the statement of cash flows). (Amounts to be deducted and cash outflows should be indicated with a minus sign.)
BARKER COMPANY Income Statement For the Year Ended December 31, Year 1 Revenue Total revenue Expenses Total expenses BARKER COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity BARKER COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Net change in cash Ending cash balanceStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started